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$PENGU (1h) - Resistance Rejection Short
Bias: Short
Entry (Zone): 0.00850 - 0.00868
Targets:
TP1: 0.00820
TP2: 0.00790
TP3: 0.00745
Stop Loss: 0.00878
Why this Setup:
I see price pushing back into a clear supply area after a strong bounce, but the move is starting to lose momentum under resistance. I want to short the rejection if buyers fail to reclaim the highs, with downside levels opening up toward the prior swing lows.
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